Tri-Mode System (M) Bhd (TRIMODE, 0199)
• Share price closed 3.4% higher at RM0.61 on Wednesday.
• TRIMODE is having a V-shaped rebound from its recent low and formed a three-white-soldiers candlestick, indicating strong buying interest. There are also buy signals from MACD bullish crossover yesterday.
• Backed by uptick in its indicators, the share price is poised to move higher.
• Resistance levels are identified at RM0.645 (R1) and RM0.670 (R2).
• On the flipside, support levels are pegged at RM0.590 (S1) and RM0.545 (S2).
Source: Rakuten Research - 2 Dec 2021
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